LONDON--(BUSINESS WIRE)--The global craft vodka market is poised to grow by USD 5.01 billion during 2019-2023, progressing at a CAGR of almost 30% during the forecast period. Request Free Sample Pages
Read the 117-page research report with TOC on "Craft Vodka Market Analysis Report by Distiller Type (large craft distiller, medium craft distiller, and small craft distiller), by Geography (North America, Europe, APAC, South America, and MEA), and Segment Forecasts, 2019 - 2023."
The market is driven by the rising number of craft distillers worldwide. Also, the ethnic and indigenous appeal associated with craft vodka is anticipated to boost the growth of the global market further.
The ethnic and indigenous appeal associated with craft vodka will be one of the critical trends in the global market. The country of origin is a critical factor that consumers look at when they buy craft vodka. For instance, consumers in the US often associate Poland as a leader in producing artisanal and handcrafted vodkas. Demand for ethnic premium and super-premium vodkas, which include the craft and artisanal varieties, has increased among consumers, prompting several countries to import the same. Thus, such a demand for ethnicity and indigenous appeal is expected to drive the growth of the overall global market during the forecast period.
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Major Five Craft Vodka Market Companies:
HEAVEN HILL BRANDS
HEAVEN HILL BRANDS owns and operates the business under various segments such as American Whiskey, Aperitif/Dessert Wine, Brandy & Cognac, Gin, Liqueurs, Rum, Tequila, and Vodka. The company offers craft vodka through brands like Deep Eddy Vodka.
ST. GEORGE SPIRITS
ST. GEORGE SPIRITS operates the business under three segments, which include Gins, Vodkas, and Other craft spirits. The company offers a variety of craft vodkas such as All-Purpose Vodka, Green Chile Vodka, and California Citrus Vodka.
SUNTORY HOLDINGS LIMITED
SUNTORY HOLDINGS LIMITED has business operations under various segments, namely Beverage and Food, Alcoholic Beverage, and Others. The company offers craft vodka through its brands SIPSMITH, PINNACLE VODKA, and HAKU Vodka.
TITO'S HANDMADE VODKA
TITO'S HANDMADE VODKA offers a premium variety of craft vodka under the product name Tito’S Handmade Vodka. In September 2018, TITO’S HANDMADE VODKA announced plans to introduce eight-bottle range formats for its craft vodka in Cannes, France.
William Grant & Sons Ltd.
William Grant & Sons Ltd. offers craft vodka through its subsidiary, Tuthilltown Spirits. The company also provides an Icelandic craft vodka named Reyka Vodka. In August 2018, William Grant & Sons Global Brands launched a new whiskey named, Fistful of Bourbon.
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Craft Vodka Distiller Type Outlook (Revenue, USD Million, 2019 - 2023)
- Large craft distiller
- Medium craft distiller
- Small craft distiller
Craft Vodka Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- MEA
- North America
- South America
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